AMP Essential Home Loan
A variable home loan with no offset facility and no package fees.
- From (owner occupied)
- 6.18%
- 6.21% comparison
Interest Rates
Owner occupied — Principal & interest
| Type | Rate | Comparison | Applies To |
|---|---|---|---|
| Variable New business rates, fees and charges apply · New business rate | 6.18% | 6.21% | essential_oo_tier2LVR greater than 60% and less than or equal to 80% inc LMI |
| Variable New business rates, fees and charges apply · New business rate | 6.18% | 6.21% | essential_oo_tier2Under 50% LVR inc LMILVR greater than 50% and less than or equal to 60% inc LMI |
| Variable New business rates, fees and charges apply · New business rate | 6.18% | 6.21% | essential_oo_tier2Under 50% LVR inc LMI |
| Variable New business rates, fees and charges apply · New business rate | 6.29% | 6.32% | essential_oo_tier2LVR greater than 80% and less than or equal to 90% inc LMI |
| Variable |
Fees
| Fee | Type | Amount |
|---|---|---|
| Multiple Security Fee Per security. Payable for each additional security offered at loan establishment. Fee is not refundable. | Upfront | $250.00 |
| Valuation fee Payable when valuation costs associated with a loan application or variation exceed $550. If applicable, we will advise you of any excess valuation costs payable prior to the valuation. | Event | null – null |
| Rework fee Payable when a loan agreement or variation to loan agreement is re-issued due to changes requested by either you or the introducer. | Event | $249.00 |
| AMP internal refinance fee Payable on settlement. Payable on settlement where you had an AMP Bank loan immediately before establishment of this loan and that loan was refinanced or otherwise replaced with this loan, either in part or in whole. | Upfront | $299.00 |
| Variation fee Plus any solicitor's or mortgage processing costs, valuation costs if applicable and any government fees which may vary from state to state. Payable when we agree to vary your loan or any security - not payable for ProPack or AMP First loans. Switching to a variable rate or another fixed rate at the end of a fixed rate period is free. Switching your repayment type from interest only to principal and interest is free. | Event |
Features
- Redraw facility
- Redraw applies to AMP Bank variable rate home loans only. You can access extra funds you’ve deposited at any time, with no withdrawal fees when using online banking, the AMP app, BankPhone or BankAssist. Minimum amounts and daily limits may apply.
- Extra repayments
- AMP home loans allow for flexible additional repayments to reduce interest and pay off loans faster. Variable rate loans allow unlimited extra repayments, while fixed-rate loans often limit these to $10,000 per 12-month period. Please refer to Loan Conditions and Credit guide for more information on the consequences of repaying your Fixed Rate Loan early
- Additional cards
- Additional cards can be requested.
- Fraud protection
- AMP home loans are protected by secure login, encryption, transaction monitoring, and customer alerts to help prevent and detect fraud. Support is available for customers in the event of suspected unauthorised activity.
- Guarantor supported
- AMP Bank home loans allow eligible applicants to use a guarantor, typically a close family member who provides additional security for the loan. This can help customers who have a limited deposit or may not meet standard lending criteria. Guarantor eligibility is subject to AMP Bank’s lending requirements and the guarantor’s financial position.
Eligibility
- Residency status — Citizen or Permanent ResidentIndividual borrowers must be Permanent residents or citizens of Australia, All new to bank customers must be living and working in Australia
- Minimum age — 18 yearsEligible customers must be at least 18 years of age
- Individuals onlyThe customer must be a natural person rather than another legal entity. Some AMP Bank home loan products are available to eligible legal entities, such as companies and trusts, subject to AMP Bank’s lending criteria. These loans are generally offered under specific products like the Professional Package, and are not available under all home loan offerings.
Constraints
- Minimum limit — $250,000.00Minimum lending amount for new home loans is $250,000
- The loan term ranges from a minimum of 10 years to a maximum of 30 years
More Information
Published by AMP - My AMP under the Consumer Data Right · Last updated 30 June 2026 · Product ID AMP_ESSENTIAL_HL · View on CDR.gov.au